The amount of money set aside to help power industry players cope with inflation has hit a new record high, resulting in higher power bills.
The Energy Regulatory Commission (ERC) in a notice on Friday revised upwards the component of the electricity bill, which is captured as inflation adjustment (IA). Consumers will for the first half of this year pay 42 cents as inflation adjustment for every unit of electricity used, which is seven per cent more than they paid between July and December last year.